In the new issue of Regulation, economist Pierre Lemieux argues that the recent oil price decline is at least partly the result of increased supply from the extraction of shale oil. The increased supply allows the economy to produce more goods, which benefits some people, if not all of them. Thus, contrary to some commentary in the press, cheaper oil prices cannot harm the economy as a whole.

Two long wars, chronic deficits, the financial crisis, the costly drug war, the growth of executive power under Presidents Bush and Obama, and the revelations about NSA abuses, have given rise to a growing libertarian movement in our country – with a greater focus on individual liberty and less government power. David Boaz’s newly released The Libertarian Mind is a comprehensive guide to the history, philosophy, and growth of the libertarian movement, with incisive analyses of today’s most pressing issues and policies.

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Eco-Fascism Plagues Britain

Tony Blair is deeply unpopular and has already announced that he will soon step down as England’s prime minister. But that does not mean he will go quietly into that good night. As reported by the Daily Mail, the UK government has announced a series of totalitarian steps to compel less energy use:

Homeowners who refuse to make their properties energy efficient will face financial penalties under drastic government plans to transform Britain into the world’s first ‘green’ economy. …The Government said that every new home should be “carbon neutral” within ten years — and existing properties subject to a “home energy audit” to assess how green they are.

Critics correctly note this is a massive intrusion into the private lives of homeowners:

Blair Gibbs, of the Taxpayers’ Alliance, said: “It’s bad enough that politicians want to take so much of our money away in tax. For them also to intrude into our homes in order to have the ability to penalize us even further is simply unacceptable.”

But the government is undaunted, and, in a classic case of the pot calling the kettle black, Tony Blair even has the gall to state that his totalitarian initiative is akin to the fight against fascism:

People are to be encouraged to make “more sustainable” travel choices, including greater use of public transport, walking and cycling. The Government is also to invest in solar, wind and wave power. …Mr Blair compared the fight against climate change to the battle against fascism.

Sadly, the British people cannot count on the Tories to defend individual freedom. Under the feckless leadership of David Cameron, the Conservative Party is even further to the left than Labor. The Party of Margaret Thatcher has become a hollow shell, judging from the Daily Mail’s reporting:

Opposition politicians and green campaigners said the Government’s proposals did not go far enough, insisting binding targets on emissions should be annual. Tory spokesman Peter Ainsworth said: “There is a danger that the fiveyear approach will enable responsibility for failure to be shunted on from one government to another.”